Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease, Cost

The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the years ended December 31, 2020 and 2019 (in thousands):

	For the year ended December 31,
	2020			2019
Lease cost (1)
Operating lease cost	$	35,049		$	35,346
Total lease cost	$	35,049		$	35,346
Other information
Operating cash flows used for operating leases	$	32,097		$	31,026
Weighted average remaining lease term	6.4 years			7.4 years
Weighted average discount rate	6.35		%	6.70		%

(1) Short-term lease costs and variable lease costs incurred by the Company for the twelve months ended December 31, 2020 and 2019 were immaterial.

Summary of Future Minimum Commitments

As of December 31, 2020, future minimum commitments under ASC 842 under the Company’s operating leases were as follows (in thousands):

	As of
Maturity of lease liabilities	December 31, 2020
2021	$	36,430
2022	36,899
2023	37,387
2024	37,398
2025	32,082
2026 and thereafter	56,095
Total lease payments	236,291
Less: imputed interest	(43,270)
Total operating lease liabilities	$	193,021